- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | 25.51 | -7.87 | 10.58 | 16.02 | -18.18 | 16.59 | 14.46 | -27.74 | 5.09 | 6.66 | -55.06 | 1.37 | 1.51 | -63.17 | -17.49 | 0.96 | -58.62 | -9.43 | 0.13 | -13.33 | -13.33 | 21.76 | -17.51 | 6.98 | 76.22 | -6.58 | -15.2 | 110.69 | 13.09 | 10.84 | -10.76 | -596.68 | -8337.39 | 19.52 | 10.78 | 5.29 |
| 23Q3 (19) | 27.69 | 20.5 | 36.61 | 19.58 | 46.56 | 56.51 | 20.01 | 19.32 | -2.2 | 14.82 | 36.34 | 7.39 | 4.10 | 43.86 | -9.89 | 2.32 | 40.61 | -4.13 | 0.15 | 7.14 | -11.76 | 26.38 | 11.92 | 1.97 | 81.59 | -7.58 | -11.63 | 97.88 | 22.77 | 60.02 | 2.17 | -89.34 | -94.42 | 17.62 | -6.72 | 9.58 |
| 23Q2 (18) | 22.98 | -1.92 | 27.88 | 13.36 | -11.41 | 43.35 | 16.77 | 25.9 | 23.13 | 10.87 | 18.54 | 19.98 | 2.85 | 22.84 | 6.34 | 1.65 | 21.32 | 13.79 | 0.14 | 0.0 | -6.67 | 23.57 | 15.14 | 21.81 | 88.28 | 7.96 | -7.47 | 79.72 | -29.59 | 16.56 | 20.33 | 253.72 | -35.66 | 18.89 | 9.76 | 8.44 |
| 23Q1 (17) | 23.43 | 1.56 | 34.5 | 15.08 | 9.75 | 57.08 | 13.32 | -3.2 | 10.17 | 9.17 | 39.57 | 2.46 | 2.32 | 26.78 | -14.07 | 1.36 | 28.3 | -6.85 | 0.14 | -6.67 | -12.5 | 20.47 | 0.64 | 19.22 | 81.77 | -9.02 | -8.05 | 113.23 | 13.37 | 42.6 | -13.23 | -10225.07 | -164.22 | 17.21 | -7.17 | 5.39 |
| 22Q4 (16) | 23.07 | 13.81 | 41.27 | 13.74 | 9.83 | 65.54 | 13.76 | -32.75 | 3.46 | 6.57 | -52.39 | -26.1 | 1.83 | -59.78 | -42.45 | 1.06 | -56.2 | -35.76 | 0.15 | -11.76 | -16.67 | 20.34 | -21.38 | 15.11 | 89.88 | -2.65 | -4.16 | 99.87 | 63.28 | 59.96 | 0.13 | -99.66 | -99.65 | 18.54 | 15.3 | 12.09 |
| 22Q3 (15) | 20.27 | 12.8 | -6.37 | 12.51 | 34.23 | -13.0 | 20.46 | 50.22 | 16.78 | 13.80 | 52.32 | 3.99 | 4.55 | 69.78 | -23.53 | 2.42 | 66.9 | -18.24 | 0.17 | 13.33 | -22.73 | 25.87 | 33.7 | 24.08 | 92.33 | -3.23 | -10.81 | 61.16 | -10.58 | -25.49 | 38.84 | 22.89 | 116.77 | 16.08 | -7.69 | 18.67 |
| 22Q2 (14) | 17.97 | 3.16 | -11.22 | 9.32 | -2.92 | -19.31 | 13.62 | 12.66 | 14.07 | 9.06 | 1.23 | 7.35 | 2.68 | -0.74 | -3.25 | 1.45 | -0.68 | -0.68 | 0.15 | -6.25 | -11.76 | 19.35 | 12.7 | 20.11 | 95.41 | 7.29 | -8.74 | 68.40 | -13.86 | -29.3 | 31.60 | 53.44 | 889.59 | 17.42 | 6.67 | 4.06 |
| 22Q1 (13) | 17.42 | 6.67 | -13.89 | 9.60 | 15.66 | -16.01 | 12.09 | -9.1 | -6.93 | 8.95 | 0.67 | -7.16 | 2.70 | -15.09 | -8.16 | 1.46 | -11.52 | -8.75 | 0.16 | -11.11 | 0.0 | 17.17 | -2.83 | -2.22 | 88.93 | -5.17 | 0.76 | 79.40 | 27.18 | -9.79 | 20.60 | -45.18 | 71.96 | 16.33 | -1.27 | -0.18 |
| 21Q4 (12) | 16.33 | -24.57 | -25.47 | 8.30 | -42.28 | -37.69 | 13.30 | -24.09 | -1.99 | 8.89 | -33.01 | -3.68 | 3.18 | -46.55 | -0.93 | 1.65 | -44.26 | -1.2 | 0.18 | -18.18 | 5.88 | 17.67 | -15.25 | -3.71 | 93.78 | -9.41 | 2.62 | 62.43 | -23.94 | -36.39 | 37.57 | 109.69 | 1929.82 | 16.54 | 22.07 | 2.16 |
| 21Q3 (11) | 21.65 | 6.97 | -3.73 | 14.38 | 24.5 | 10.11 | 17.52 | 46.73 | 4.29 | 13.27 | 57.23 | 4.65 | 5.95 | 114.8 | 25.0 | 2.96 | 102.74 | 24.37 | 0.22 | 29.41 | 22.22 | 20.85 | 29.42 | -4.71 | 103.52 | -0.99 | -3.76 | 82.08 | -15.15 | 5.62 | 17.92 | 461.01 | -19.61 | 13.55 | -19.06 | -19.78 |
| 21Q2 (10) | 20.24 | 0.05 | -8.71 | 11.55 | 1.05 | -10.74 | 11.94 | -8.08 | -9.61 | 8.44 | -12.45 | -10.21 | 2.77 | -5.78 | -18.53 | 1.46 | -8.75 | -16.09 | 0.17 | 6.25 | -5.56 | 16.11 | -8.26 | -14.13 | 104.55 | 18.46 | -0.44 | 96.74 | 9.91 | -1.15 | 3.19 | -73.34 | 54.39 | 16.74 | 2.32 | 0 |
| 21Q1 (9) | 20.23 | -7.67 | 27.39 | 11.43 | -14.19 | 95.38 | 12.99 | -4.27 | 186.75 | 9.64 | 4.44 | 278.04 | 2.94 | -8.41 | 345.45 | 1.60 | -4.19 | 272.09 | 0.16 | -5.88 | 23.08 | 17.56 | -4.31 | 42.19 | 88.26 | -3.42 | -16.74 | 88.02 | -10.32 | -31.81 | 11.98 | 547.16 | 141.19 | 16.36 | 1.05 | -13.26 |
| 20Q4 (8) | 21.91 | -2.58 | 10.66 | 13.32 | 1.99 | 36.9 | 13.57 | -19.23 | 39.18 | 9.23 | -27.21 | 28.19 | 3.21 | -32.56 | 34.31 | 1.67 | -29.83 | 31.5 | 0.17 | -5.56 | 6.25 | 18.35 | -16.13 | 11.62 | 91.39 | -15.03 | -6.9 | 98.15 | 26.29 | -1.58 | 1.85 | -91.7 | 895.72 | 16.19 | -4.14 | -12.72 |
| 20Q3 (7) | 22.49 | 1.44 | 15.27 | 13.06 | 0.93 | 31.26 | 16.80 | 27.18 | 3.51 | 12.68 | 34.89 | -1.01 | 4.76 | 40.0 | -5.56 | 2.38 | 36.78 | -3.25 | 0.18 | 0.0 | 0.0 | 21.88 | 16.63 | -3.44 | 107.56 | 2.43 | -8.15 | 77.71 | -20.59 | 26.82 | 22.29 | 977.35 | -42.36 | 16.89 | 0 | 3.49 |
| 20Q2 (6) | 22.17 | 39.61 | 28.15 | 12.94 | 121.2 | 65.69 | 13.21 | 191.61 | 73.13 | 9.40 | 268.63 | 94.21 | 3.40 | 415.15 | 97.67 | 1.74 | 304.65 | 79.38 | 0.18 | 38.46 | 5.88 | 18.76 | 51.9 | 27.01 | 105.01 | -0.94 | -8.96 | 97.87 | -24.18 | -4.34 | 2.07 | 107.11 | 189.71 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 15.88 | -19.8 | 11.2 | 5.85 | -39.88 | 25.0 | 4.53 | -53.54 | -17.34 | 2.55 | -64.58 | -39.72 | 0.66 | -72.38 | -51.47 | 0.43 | -66.14 | -45.57 | 0.13 | -18.75 | -13.33 | 12.35 | -24.88 | -8.65 | 106.01 | 8.0 | 2.48 | 129.08 | 29.44 | 51.18 | -29.08 | -15745.92 | -298.98 | 18.86 | 1.67 | -0.89 |
| 19Q4 (4) | 19.80 | 1.49 | 0.0 | 9.73 | -2.21 | 0.0 | 9.75 | -39.93 | 0.0 | 7.20 | -43.79 | 0.0 | 2.39 | -52.58 | 0.0 | 1.27 | -48.37 | 0.0 | 0.16 | -11.11 | 0.0 | 16.44 | -27.45 | 0.0 | 98.16 | -16.18 | 0.0 | 99.72 | 62.73 | 0.0 | 0.19 | -99.52 | 0.0 | 18.55 | 13.66 | 0.0 |
| 19Q3 (3) | 19.51 | 12.77 | 0.0 | 9.95 | 27.4 | 0.0 | 16.23 | 112.71 | 0.0 | 12.81 | 164.67 | 0.0 | 5.04 | 193.02 | 0.0 | 2.46 | 153.61 | 0.0 | 0.18 | 5.88 | 0.0 | 22.66 | 53.42 | 0.0 | 117.11 | 1.53 | 0.0 | 61.28 | -40.1 | 0.0 | 38.67 | 1776.88 | 0.0 | 16.32 | -8.83 | 0.0 |
| 19Q2 (2) | 17.30 | 21.15 | 0.0 | 7.81 | 66.88 | 0.0 | 7.63 | 39.23 | 0.0 | 4.84 | 14.42 | 0.0 | 1.72 | 26.47 | 0.0 | 0.97 | 22.78 | 0.0 | 0.17 | 13.33 | 0.0 | 14.77 | 9.25 | 0.0 | 115.34 | 11.5 | 0.0 | 102.31 | 19.82 | 0.0 | -2.31 | -115.78 | 0.0 | 17.90 | -5.94 | 0.0 |
| 19Q1 (1) | 14.28 | 0.0 | 0.0 | 4.68 | 0.0 | 0.0 | 5.48 | 0.0 | 0.0 | 4.23 | 0.0 | 0.0 | 1.36 | 0.0 | 0.0 | 0.79 | 0.0 | 0.0 | 0.15 | 0.0 | 0.0 | 13.52 | 0.0 | 0.0 | 103.44 | 0.0 | 0.0 | 85.38 | 0.0 | 0.0 | 14.62 | 0.0 | 0.0 | 19.03 | 0.0 | 0.0 |
| 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 24.97 | 27.14 | 16.10 | 42.73 | 5.88 | 15.3 | 16.29 | 7.95 | 10.55 | 8.54 | 10.74 | -7.41 | 6.31 | -0.16 | 0.56 | -9.68 | 23.17 | 11.56 | 76.22 | -15.2 | 98.86 | 32.29 | 1.14 | -95.48 | 0.92 | -3.38 | 18.28 | 7.28 |
| 2022 (9) | 19.64 | -0.36 | 11.28 | -2.67 | 5.10 | 37.17 | 15.09 | 6.27 | 9.72 | -5.45 | 11.60 | -21.46 | 6.32 | -19.49 | 0.62 | -17.33 | 20.77 | 13.81 | 89.88 | -4.16 | 74.73 | -8.48 | 25.27 | 37.83 | 0.95 | 2.67 | 17.04 | 9.02 |
| 2021 (8) | 19.71 | -6.1 | 11.59 | -1.28 | 3.72 | -25.99 | 14.20 | 12.16 | 10.28 | 14.73 | 14.77 | 35.26 | 7.85 | 32.83 | 0.75 | 19.05 | 18.25 | -0.22 | 93.78 | 2.62 | 81.65 | -11.93 | 18.34 | 151.41 | 0.92 | -2.21 | 15.63 | -9.18 |
| 2020 (7) | 20.99 | 17.39 | 11.74 | 43.17 | 5.03 | -15.79 | 12.66 | 25.97 | 8.96 | 19.63 | 10.92 | 6.74 | 5.91 | 9.24 | 0.63 | -3.08 | 18.29 | 7.02 | 91.39 | -6.9 | 92.71 | 13.7 | 7.29 | -60.5 | 0.95 | -7.03 | 17.21 | -3.75 |
| 2019 (6) | 17.88 | 20.0 | 8.20 | 54.72 | 5.97 | 23.8 | 10.05 | 69.19 | 7.49 | 88.19 | 10.23 | 50.0 | 5.41 | 50.7 | 0.65 | -10.96 | 17.09 | 42.89 | 98.16 | -21.69 | 81.54 | -8.59 | 18.46 | 70.98 | 1.02 | -16.14 | 17.88 | -0.45 |
| 2018 (5) | 14.90 | 10.7 | 5.30 | 29.58 | 4.82 | -3.57 | 5.94 | 39.11 | 3.98 | 44.73 | 6.82 | 37.22 | 3.59 | 38.61 | 0.73 | 1.39 | 11.96 | 15.56 | 125.34 | -12.92 | 89.20 | -6.84 | 10.80 | 157.51 | 1.21 | 0 | 17.96 | -5.27 |
| 2017 (4) | 13.46 | 3.3 | 4.09 | 24.32 | 5.00 | -14.03 | 4.27 | 2.4 | 2.75 | -13.79 | 4.97 | -20.35 | 2.59 | -12.5 | 0.72 | -1.37 | 10.35 | -6.5 | 143.94 | -11.1 | 95.75 | 21.48 | 4.19 | -80.14 | 0.00 | 0 | 18.96 | 2.65 |
| 2016 (3) | 13.03 | 36.87 | 3.29 | 8125.0 | 5.82 | -8.9 | 4.17 | 329.9 | 3.19 | 697.5 | 6.24 | 680.0 | 2.96 | 202.04 | 0.73 | 2.82 | 11.07 | 28.12 | 161.92 | -7.1 | 78.82 | 1821.22 | 21.12 | -77.98 | 0.00 | 0 | 18.47 | 7.82 |
| 2015 (2) | 9.52 | 0.11 | 0.04 | -97.08 | 6.39 | 11.62 | 0.97 | -48.4 | 0.40 | -75.61 | 0.80 | -81.52 | 0.98 | -56.05 | 0.71 | -15.48 | 8.64 | -2.92 | 174.29 | -12.26 | 4.10 | -94.39 | 95.90 | 256.3 | 0.00 | 0 | 17.13 | 8.83 |
| 2014 (1) | 9.51 | 0 | 1.37 | 0 | 5.72 | -6.74 | 1.88 | 0 | 1.64 | 0 | 4.33 | 0 | 2.23 | 0 | 0.84 | -8.7 | 8.90 | 31.66 | 198.64 | -15.8 | 73.09 | -25.55 | 26.91 | 1078.86 | 0.00 | 0 | 15.74 | 13.81 |
